Draghi Sees No ‘Immediate’ Need for More Rate Cuts, Spiegel Says

From bloomberg.com

European Central Bank President Mario Draghi sees no need for further cuts to the institution’s benchmark rate amid “encouraging signs” that the euro crisis may be resolved, Der Spiegel reported, citing an interview. “At the moment we see no immediate need to act” on the main refinancing rate, the magazine cited Draghi as saying. “The crisis isn’t over, but there are many encouraging signs.” The ECB last month slashed its key rate by a quarter point to a record low of 0.25 percent as the Frankfurt-based central bank warned that the euro area may face a “prolonged period” of low inflation. In the ... (full story)